$6,000/mo for 30 years in retirement - what would it take?

It may seem like a daunting task to work out - but there are shortcuts.

Example:
(Please follow along with your own numbers)

📌 You are a couple in your 40'ties.
📌 You have 20 years before retiring.
📌 You have decided on $6,000/mo (starting number)
📌 You have both signed up for an account at SSA.gov
📌 SSA.gov estimates your benefits as $2,000/mo each.

Time for back of the napkin scribbles:

$6,000 needed minus $4000 from Social security
= you are $2000 short.

$2,000 x 375 = $750,000

BINGO!

$750,000 is the size of the portfolio needed to generate $2,000.

✅ Assumes 20% taxes
✅ Has been tested to be inflation resilient.
✅ Has been tested to sustain withdrawals for a 30 year period.

Let's recap:

A $750,000 portfolio can generate $2000/mo for 30 years including 20% that goes to the tax man.

All you did was time the monthly $2,000 by 375!
...also know as the ⭐Rule of 375⭐

But we are not done......

So what would it take to build a 750,000 portfolio in 20 years.

Now we need some math help!

There are many retirement calculators out there.

Here is one I often use.

(But there are probably better ones)

Long story short...
- you need to invest $1318 every month.
- To build a $750,000 portfolio in 20 years.
- Assuming a reasonable 8% return.

My financial planner friends are likely spilling their coffee because these numbers are....

.....well just back of the napkin estimates.

.....and they are right - this can be a lot more complex and each of us has specific circumstances etc...

But here is the thing....

Playing around with YOUR numbers:

😊 Is quite easy!
💡 you will have an idea.
📈 You can tweak your budget.
✈ ...And set a heading.
⚡ Heck...you can begin to ponder "What if.."

"What if's" are the juice in life 🧡

Have you considered your numbers ?
-----------------------------------------
- I can help you get the course set
- Tweak the budget
- Make you go "what if..."

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